Make Harp 3.0 Happen

Advocating for The Expansion of the Home Affordable Refinance Program

Only The President Can Make HARP 3.0 Happen Now

We are racing towards the end of the Home Affordable Refinance Program. It is set to expire in 14 months. Legislative efforts to expand the program to include underwater homeowners with non-GSE held loans has never been able to gain any traction in Congress due to partisanship politics. Partisanship and gridlock is never going to end, so that avenue for enacting HARP 3.0 is essentially a dead end. The slimmest of hopes for this plan are on President Obama. The only way HARP 3.0 will happen is if the President implements it through executive order. Advisors with the U.S. Treasury hinted at the possibility of executive order as far back as January 2013:

However, we will also consider non-legislative means at our disposal to help responsible non-GSE homeowners access these low rates. To be the most effective, as well as address investor concerns, the legislative route would be preferable to using existing Making Home Affordable program authority.

-Michael Stegman, U.S. Treasury Housing Adviser – 1/29/13

In February of 2013 the Washington Post reported that President Obama was indeed considering an executive order to expand HARP.

One of the more significant moves under consideration is in housing. Obama is weighing whether to use his executive authority to give more of the country’s nearly 11 million struggling homeowners a chance to refinance at today’s ultra-low interest rates, according to the Treasury Department and others in talks with the administration on the issue.

The executive order never happened. Either the President lacked the backbone to actually use an executive order, or it was simply an idle threat lobbed at Republicans. Regardless, we are still waiting for it. Unless the President decides to actually care about this issue and do something about it, HARP 3.0 will not happen.


Updated: December 13, 2014 — 4:25 pm


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  1. Please, Please help the people whom are under the control of HSBC, Beneficial. We are underwater, thirty years into our home, and paying over 9 and 13.5% on two loans with this business. You must pass this Harp 3 program. Please hear the people. Respectfully Lorraine

  2. I lost my job and become injured. Now I receive SS Disability benefits. My wife does work but on minimum wage, she also lost her good salary job and had to take a low salary job. Adding up we can not afford our Home mortgage and normal expenses (Health Insurance, Medicines, Utilities, Food, Car-GAS). We already depleated our savings. Our mortgage is not FHA, is a non-Conforming conventional loan so I do not qualify under the current HARP program. If I could refinance the mortgage with HARP-3 our income will be enough to pay for our needs, but now I am really in danger to default my mortage and eventually loose my Home. Please approve/pass the Harp-3 Program, and soon. Cordially Jose E. Torres

  3. Let all have the same opportunity as the Freddie and the Fannie people have had. Most did nothing special in qualifying. This mortgage debacle affected everyone! Those that have a proven track record of payments deserve the same refinancing opportunities as Harp 1 and Harp 2 refinancers.

  4. Please get this passed we are stuck in a mortgage that is underwater and is not Freddie Mae or Fannie Mac. It has a very high interest rate and we cannot refinance. We have paid our mortgage and never been late but yet no can do anything for us. It really makes us upset because we did not cause this situation but yet we can do nothing about it. All we want is to refinance our home.

  5. Please help us
    my house rate is change to 7.750% and 5 %
    i am not able to make monthly payment.
    no one to help with lowering the rate, because is my house is under water.

    this is forcing me to have a bad credit ,

    please HARP-3 Approve and pass

    and this home fill with a lot children and it is not your problem.. but they still US Citizen that deserved to have better home not on the street..

  6. Harp3 is due ASAP!!! It has been several years since Harp2 has been the only source of refinance available to homeowners. The American homeowner and tax payer is interested in refinance benefits for “ALL”, not just those who are tied to government programs. Time is of essence. We can not continue to pay for all of our government programs and not get some interest releif. Hopefully this can get addresses in the session and prior to April 15th. This has been in the works for some time with no action. Please get this started.

  7. The American homeowner and tax payer is interested in refinance benefits for “ALL”, not just those who are tied to government programs. Time is of essence. We can not continue to pay for all of our government programs and not get some interest releif.

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